Parallel Finance Imposes $500 Withdrawal Fee on NFTs, Affecting Over $800K in Assets

The defunct NFT lender, Parallel Finance, has implemented a significant withdrawal fee for its users, requiring a $500 charge to access assets following a six-month shutdown. This measure impacts over $800,000 worth of NFTs locked within the platform’s smart contracts. The move raises concerns about user liquidity and accessibility in the NFT market, potentially influencing future regulatory frameworks in the crypto landscape.